The IKIO Lighting IPO of 607 crore starts today, as the company is looking to sell its shares in between the range of Rs 270-285 apiece. The issue is open till the 8th of June 2023 and would be in a lot size of 52 equity shares.
One of the top ODM producers in India, IKIO Lighting Limited offers complete end-to-end solutions for LED lights, switches, and RV components. The company was incorporated in 2016 and is in Noida. IKIO majorly deals in ODM (original design manufacturers) with a focus on the market front of both India and the USA.
Residential, industrial, and commercial lighting are just a few of the industries that employ the company's systems and products. These fall into four categories:
1) LED illumination
2) Lights for refrigerators
3) ABS (acrylonitrile butadiene styrene) pipe
4) additional goods like light strips, fan controllers, etc.
The IKIO Lighting Limited public offering consists of new issuance of equity shares with a maximum value of Rs. 350 crores and an offer to sell 90 lakh equity shares from current owners.
What the company wishes to accomplish through the fresh issue:
- Repayment/prepayment of some borrowings taken out by the corporation and its subsidiaries, in full or in part.
- Investment for the construction of a new facility at its fully owned subsidiary, IKIO Solutions Private Limited.
- Broader corporate objectives
With the issue opening 15% of the shares will be offered to non-institutional investors, while the corporation has reserved 50% of the offer for qualified institutional buyers (QIB). Retail investors will only be able to purchase the remaining 35% of the issuance.
The firm declared a net profit of Rs 51.35 crore for the quarter that ended on December 31, 2023, and total sales of Rs 332.79 crore. For the fiscal year 2021–2022, it had a net profit of Rs 50.52 crore and total revenues of Rs 334 crore.
The issue's registrar is Kfin Technologies, and the book-running lead managers are Motilal Oswal Investment and Advisors.
- Charu Kapoor
Read also, Who has the potential among 35 mid-caps?
